(VEN) - With its appropriate, effective solutions, the Phu Rieng Rubber Company not only fulfills its production and trade targets but also maintains efficient investment in different businesses, completes investment projects on time and has become a leading member of the Vietnam Rubber Group.
In recent years, the company diversified its business lines and prepared conditions to transform into a joint stock company. In 2009, although the company had to surmount difficulties to assure stable jobs and incomes for its employees, its investment projects for rubber plantation, construction, livestock breeding, transport and mechanical engineering were effective.
The Phu Rieng Rubber Company has taken over the Dong Nai protective forest management unit (Bu Dang) and the Tuy Duc protective forest management unit (Dak Nong) with a total forest area of 20,000 hectares and established Dong Nai and Tuy Duc rubber plantations.
Last year, Phu Rieng extracted 27,500 tonnes of rubber latex, which is 107.8 percent of the target set by the Vietnam Rubber Group. The company reached a rubber production yield of 2.08 tonnes per hectare, while nine plantations obtained a yield of more than two tonnes of latex per hectare. In 2009, the company earned revenue of VND976.2 billion, including a profit of VND268 billion, and paid VND90 billion in taxes to the state budget.
In the same year, the company's plants processed 27,600 tonnes of products of different kinds while well satisfying customer demands. The company's product quality-related achievements in 2009 are higher than those in 2008. While exports in general were affected by the global financial crisis and economic recession, Phu Rieng maintained goods sales and even found new buyers. The company signed contracts to sell more than 29,000 tonnes of rubber latex at an average price of VND34 million per tonne.
Despite difficulties, Phu Rieng is determined to grow both qualitatively and quantitatively and pursue well-perceived investment. By the end of December 2009, the company planted and re-cultivated 834ha of rubber, which is 103 percent of the year's target. Rubber plantation in Phu Tho province is a notable investment project of the company, as all of rubber plants on the 40ha area grow well.
Phu Rieng Rubber Company Director and Party Secretary Nguyen Hong Phu said that efficient production and trading activities have resulted in good income for company employees, which is higher than the rubber industry's average. Specifically, in 2009 the company paid an average of VND7.25 million to each employee per month, while farmer households planting rubber for the company reached an average income of VND25 million each.
Company member units maintained saving funds worth a total of more than VND4.5 billion, which provided loans for 1,179 company employees.
Phu Rieng always implements all of employee policies stipulated by the State. It spent more than VND3.6 billion to buy inbound and outbound tours for its employees.
In 2010, the company will transform into a joint stock company. Its 2010 targets include extraction of 26,000 tonnes of rubber latex, making revenue of VND963 billion, paying VND84.5 billion in taxes to the state budget and providing an average employee income of VND7 million per month. The company will also work to maintain the title 'Excellent unit of Vietnam Rubber Group' that it has been awarded./.
Van Trong
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